Page Summary
Interactive Brokers and Forex.com are leading online brokers with top-tier regulations. Interactive Brokers is a secure broker with licenses from the IIROC, FCA, MAS, FSA, SFC, FINMA, and CFTC. It has a proprietary platform and a professional app with a demo account. Interactive Brokers is a good choice for professionals as it has premium educational and research tools.
Forex.com is the leading forex broker with licenses from the IIROC, FCA, FSA, and CFTC. It offers straightforward trading platforms and apps with some educational tools. Forex.com is a top choice for active traders.
Both brokers have advantages and disadvantages. This article discusses the differences between Interactive Brokers and Forex.com.
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Interactive Brokers
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
Forex.com
BROKER COMPARISON
Trading Platform & Tools
| Automated Trading | ||
| Charting Tools | ||
| Conditional Orders | ||
| cTrader | ||
| Demo Account | ||
| Desktop Platform | ||
| Max Leverage | 1:20 | 1:50 |
| MetaTrader 4 (MT4) | ||
| MetaTrader 5 (MT5) | ||
| Mobile Version | ||
| Mutual Fund Management | ||
| Proprietary Platform | ||
| Social/Copy Trading | ||
| Trading Alerts | ||
| Trading signals | ||
| Watchlist | ||
| Web Version |
Fees
| Withdrawal Fee | 0 | 0 |
| Deposit Fee | 1% | 0 |
| Inactivity Fee | 0 | $15 per month (after 12 months) |
| Cost Per Trade | 0 | 0 |
| Cost Per Month | 0 | 0 |
| Forex (EUR/USD) | 0.2 pips + 0.08 to 0.20 bps times trade size comission | 0.8 pips |
| Stocks & ETF | $ 0.005 per share | 0 + spread |
| CFD (Gold) | 0.02% | 0.8 |
| Crypto | 0.12% to 0.18% of trade value | 0 |
| Options | 0 | |
| Conversion Fees | 0 | 0.50% |
| Misc. Fees | 0 | 0 |
| Overnight Fees | Yes on CFD’s | 2.50% |
Deposit & Withdrawal
| Minimum deposit (in UAE) | $0 | $100 |
| Bank Wire | ||
| Credit/Debit Card | ||
| Cash | ||
| Check | YES from US bank account | |
| Islamic Account Transfer | ||
| E-payments | ||
| Paypal | ||
| Skrill | ||
| Neteller |
Assets
| Shares | 16.500 | 0 |
| ETF & Funds | 35.000 | 0 |
| Crypto | 4 | 0 |
| Commodities | 1 | 0 |
| Indices | 3052 | 0 |
| Options | 50.000 | 0 |
| Futures | 245 | 0 |
| Bonds | 1.000.000 | 0 |
| Forex Instruments | 115 | 91 |
| CFD Indices & Funds | 13 | 17 |
| CFD Stocks | 8.000 | 9500 |
| CFD Commodities | 2 | 22 |
| CFD Crypto | 0 | 8 |
| CFD Bonds | 0 | 0 |
| Binary Options | 0 | 0 |
| SWAPS | 0 | 0 |
| Saving Plans | 0 | 0 |
Research & Education
| Webinars | ||
| Educational Resources | ||
| Daily News Updates | ||
| Market Indepth Analysis | ||
| Pers. Training & Room | ||
| Market Research |
Customer Support
| Phone | ||
| Live Chat | ||
| 24/7 support | ||
| Multilingual | ||
| Personal Account Manager |
Winner
Top findings from the Interactive Brokers vs. Forex.com review:
- Interactive Brokers is a leading online broker with professional platforms and tools.
- Forex.com is a leading forex broker with an excellent forex trading app.
- Both brokers offer a demo account, a proprietary platform, and an active trader discount.
We recommend Interactive Brokers for traders looking for professional platforms and tools. Forex.com is an excellent choice for forex trading for both experienced and beginner traders.
Level of experience
Interactive Brokers offers some research tools, including forex news and Trading Central. It has educational materials, including webinars and investor dictionaries. Interactive Brokers has premium trading platforms and a virtual trading account.
Forex.com provides some education and research data, including forex education. Its learning and research tools are focused on forex trading. Forex.com is a top choice for forex traders of all levels of experience.
Fees
The minimum initial deposit at Forex.com is $100, while Interactive Brokers doesn’t charge an initial fee. Both brokers offer an active trader discount.
Assets
Interactive Brokers has 105 forex currency pairs, while Forex.com provides 91 pairs. Interactive Brokers offers 7400 CFDs, while Forex.com has 4500 available CFDs.
Trading platform
Interactive Brokers offers an excellent online trading experience with desktop and web platforms. It has many research and education tools, including advanced trading videos. Interactive Brokers is recommended for experienced traders, as its platforms are challenging for beginners.
Forex.com offers a leading forex trading app, desktop, and web platform. It has MT4 and MT5 with many trading tools. These include a demo account, standard alerts, and some research tools. It is a good choice for traders of all levels of experience who want to improve their forex trading knowledge.
Banking services
Banking services contribute to a premium trading experience. Interactive Brokers offer bank transfers as their funding options. Forex.com has bank transfers, credit/debit cards, and PayPal funding.
Final verdict
Interactive Brokers and Forex.com are leading online brokers. Both have strengths and weaknesses depending on your trading knowledge and skills. Professionals choose Interactive Brokers because of its excellent platforms. Forex.com is a good choice for professional traders searching for premium forex services.
Interactive Brokers compared to other brokers: